SFGTV2: San Francisco Government Television
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Oct 7, 2012
10/12
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you know i think that the gross revenue tax is a progressive tax and that tax would allow new businesses, small businesses able to flourish so we have something to look forward to with that. that being said treasure island seems to me a car dependent project and unless you have a ferry that is going there and dropping you off, but that would be somewhat time consuming. the same is true with hunter's point and the problem is there isn't a lot of transportation near there. the trances bay terminal next to bart, next to cal train this is a great project and has so much commuter friendly things going on there, and as far as i am concerned when it comes to development in san francisco it's got to stop. >> all right. thank you sir. >> there are three parts of the economy, the consumer, the investment and the government. the only reason thing that has grown on a rapid rate is the government. the government gets their revenues through taxation or borrowing money. the problem is the regulations are hurting small businesses. 2/3 of all jobs are created by small business which are considered -- cha
you know i think that the gross revenue tax is a progressive tax and that tax would allow new businesses, small businesses able to flourish so we have something to look forward to with that. that being said treasure island seems to me a car dependent project and unless you have a ferry that is going there and dropping you off, but that would be somewhat time consuming. the same is true with hunter's point and the problem is there isn't a lot of transportation near there. the trances bay...
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Oct 5, 2012
10/12
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WETA
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax tadd up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, get the rate down, lower deductions and exemptions to create more jobs because there's nothing better getting us to a balanced budget than having more people working, earning more money, paying more taxes, that's by far the most effective and efficient way to get this budget balanced. >> jim you may want to move on to another topic but i would like to say this to the american people, if you believe we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense over 10 years, that's more than our entire defense budget
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax tadd up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, get...
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Oct 5, 2012
10/12
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FOXNEWSW
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i am a tax cheat, i don't pay my taxes. if i'm walking down the street and someone has a gun to my head should a scoop protect me? >>lis: of course. yes. you got me both ways because is different. a firefighter for your home should come there and protect you and your children your family whether you pay the fee. the point is it is a fee, not a tax. just to make sure that your community is safe. that's all it is. $150? really? really? really? >> i'm pretty sure whatever reviewing court looks at it will find that the label does not rule the day. it is the effect, which is a levee, a charge, a charge on the taxpayers of california and they will pay it with a two-thirds majority vote. there has to a constitutionality and procedural constitutionality. >> if we allow this to lap in every town, can't they levee the fees all over the place if everything? >>lis: you go, taking it out of the public safety or public service which is where it belongs, you go to the public library, you get a book out, you are late on the book, you get a
i am a tax cheat, i don't pay my taxes. if i'm walking down the street and someone has a gun to my head should a scoop protect me? >>lis: of course. yes. you got me both ways because is different. a firefighter for your home should come there and protect you and your children your family whether you pay the fee. the point is it is a fee, not a tax. just to make sure that your community is safe. that's all it is. $150? really? really? really? >> i'm pretty sure whatever reviewing...
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Oct 6, 2012
10/12
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FOXNEWS
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our taxes are just too low. we need higher taxes on wealthier people. >> we need jobs. >> there's not going to be a shortage of capital, there's plenty of capital, it's just awash in capital and that's not the problem. >> our problem is not-- is not that taxes are too low, they're not. because if they were lower we'd get more jobs and more revenue, that's exactly what we need, ben, let me tell you something, you raise taxes we're going back-- >> absolutely. i couldn't agree with that more. and the deficit gets with bigger and the deficit gets bigger. >> raise taxes and-- >> we've got, okay, adam. can you break this? what do you think? which side are you on here, a fiscal cliff, how do we address this, higher taxes, lower taxes? >> we won't have a sequester for more than a few days. i can see it happening, but it won't last very long. what we have to have higher taxes. >> no, come on. >> and we know that, we will. >> all right i tell you what-- >> you know what, we'll have double dip recession. >> we may be going
our taxes are just too low. we need higher taxes on wealthier people. >> we need jobs. >> there's not going to be a shortage of capital, there's plenty of capital, it's just awash in capital and that's not the problem. >> our problem is not-- is not that taxes are too low, they're not. because if they were lower we'd get more jobs and more revenue, that's exactly what we need, ben, let me tell you something, you raise taxes we're going back-- >> absolutely. i couldn't...
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Oct 4, 2012
10/12
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CSPAN
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this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. taxation. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you account for growth. energy is critical. the president pointed out that production of oil and gas in the u.s. is up but not due to his policies -- in spite of his policies. all of the increase in natural gas and oil has happened on privat
this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the...
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Oct 4, 2012
10/12
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let's stay on taxes. let's just stay on taxes for a moment. what is the difference? >> virtually everything he just said about my tax plan is inaccurate. >> all right. just for the record -- >> worry talking about -- >> just so everybody understands, we are way over our first 15 minutes. >> that's fine, isn't it? >> it's great. no problem. >> the last point i would make -- >> two minutes is up, sir. >> no, i had five seconds before you interrupted me. >> here are the specifics. >> excuse me. >> let's talk the other big. >> no, no, let's not. let's let him respond to this specific on dodd-frank. >> some viewers also wondered why lehrer didn't challenge romney's attack on his own network, pbs. >> i'm going to stop the subsidy to pbs. i love big bird. actually like you, too, but i'm not going to keep on spending money to borrow money from china to pay for it. >> the web went wild for big bird. shame shame. mentions of big bird went up 800,000%. seriously, though. l lehrer with his criticized for not explaining dodd-frank and simpson bowles to the public. obama adviser s
let's stay on taxes. let's just stay on taxes for a moment. what is the difference? >> virtually everything he just said about my tax plan is inaccurate. >> all right. just for the record -- >> worry talking about -- >> just so everybody understands, we are way over our first 15 minutes. >> that's fine, isn't it? >> it's great. no problem. >> the last point i would make -- >> two minutes is up, sir. >> no, i had five seconds before you...
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Oct 5, 2012
10/12
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of these tax cuts. but romney didn't need to address any of these specifics. he just needed to lie about it. it's a strategy another president used when he was asked about his proposed tax cuts for the rich. >> let me just tell you what the facts are. the facts are, after my plan, the wealthiest of americans pay more taxes of the percentage of the whole than they do today. >> really? here we go again. a republican candidate has a plan for massive tax cuts for the rich and tells the american people the exact opposite in a debate. it only works if the candidate is a good liar. presentation does matter. give him credit. last night mitt romney was pretty good on style, but he had a boat load of lies. check out this triple whammy where romney spits out one lie after another with complete conviction. >> we didn't raise taxes. you've raised them by $1 trillion under obama care. we didn't cut medicare, of course, we don't have medicare, but we didn't cut medicare by $716 billion. we didn't put in place a board
of these tax cuts. but romney didn't need to address any of these specifics. he just needed to lie about it. it's a strategy another president used when he was asked about his proposed tax cuts for the rich. >> let me just tell you what the facts are. the facts are, after my plan, the wealthiest of americans pay more taxes of the percentage of the whole than they do today. >> really? here we go again. a republican candidate has a plan for massive tax cuts for the rich and tells the...
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Oct 6, 2012
10/12
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KQEH
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benefits and tax entitlements and special tax treatments across the entire code lower tax rates it seems to me, was a very effective political stand. he articulated extremely well as pat said. it was very sub studentive performance. he said it in a very organized and clear way. i think he was extraordinarily more effective than anybody anticipated, and the president, for whatever reason, was just not in the game. >> why was obama thrown off balance? >> i call it the second-term blahs, john. you've seen this happen with other presidents running for reelection. it's the kind of a job where you're constantly having people, really, you know, yes- men and yes-women surrounding you, and you kind of get out of practice on standing up there and telling someone who is telling you to your face that you're ruining the country. obama's conflict of verse -- obama is conflict averse, anyway, when it comes to directly confronting people. he should be well familiar from being out there on the stump. he was giving these elongated answers, complex, compound sentences instead of just saying, mr. romney, yo
benefits and tax entitlements and special tax treatments across the entire code lower tax rates it seems to me, was a very effective political stand. he articulated extremely well as pat said. it was very sub studentive performance. he said it in a very organized and clear way. i think he was extraordinarily more effective than anybody anticipated, and the president, for whatever reason, was just not in the game. >> why was obama thrown off balance? >> i call it the second-term...
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tax rate, they're taxed at a lower rate. the businesses in the last 3% of businesses happen to employ half -- half of all people that work in small business. they employ one-quarter of all workers in america, and you want to take their tax rate from 35% to 40%. i talked to a guy with a very small business, he's in the electronics business in st. louis. he has four employees. he said he and his son calculated how much they pay in taxes, federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the same idea by behind bowles-simpson, by the way, get the rates down, lower exemptions and create jobs. there's nothing better to get us to a balanced budget t
tax rate, they're taxed at a lower rate. the businesses in the last 3% of businesses happen to employ half -- half of all people that work in small business. they employ one-quarter of all workers in america, and you want to take their tax rate from 35% to 40%. i talked to a guy with a very small business, he's in the electronics business in st. louis. he has four employees. he said he and his son calculated how much they pay in taxes, federal income tax, federal payroll tax, state sales tax,...
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david: president obama almost certain to characterize mitt romney's tax plans tonight as tax cuts for the rich, or awe kise him of advocating trickle-down economics as he has done before but is that a fair characterization. where did it come from? famed economist thomas sowell has been looking into all this. he wrote an essay, trickle down theory and tax cuts for the rich published by hoover institution press and professor sowell joins us now. professor, always an honor to have you here. thanks for coming in. >> thanks for having me. david: so has any republican actually ever advocated something called trickle-down economics? >> neither a republican nor a democrat, nor member of any other group, nor any human being that i know of ever advocated that. david: so where does it come from? >> it comes from people who are opposed to tax cuts and who say that the people who want the tax cuts just want to give more money to the rich and in hopes their prosperity will trickle down. no one has ever said that. years ago in my column i challenged anyone to name any human being who had ever said i
david: president obama almost certain to characterize mitt romney's tax plans tonight as tax cuts for the rich, or awe kise him of advocating trickle-down economics as he has done before but is that a fair characterization. where did it come from? famed economist thomas sowell has been looking into all this. he wrote an essay, trickle down theory and tax cuts for the rich published by hoover institution press and professor sowell joins us now. professor, always an honor to have you here. thanks...
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Oct 8, 2012
10/12
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>> he proposes a 20% across-the- board tax cuts. >> marginal tax rate. >> alternative minimum tax. he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 billion over the next decade. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their taxes? >> vice-president biden just today said that the middle-class over the last of we were years has been ". ." we agree. that means we need to stop digging by electing mitt romney the next president of the united states. >> what did you think, jonathan? >> you talk to a lot of folks in the romney campaign and they say joe biden is the gift that keeps on giving. you saw him pause when he said four years. i think he meant to say the last 10 years, and it came out wrong. this is fodder for the obama campaign. it will not change, i do not think, in a huge way, the course of events, but there is no question the obama campa
>> he proposes a 20% across-the- board tax cuts. >> marginal tax rate. >> alternative minimum tax. he proposes tax deductions in real-estate to reduce the deficits. what this means is, over time, $45 billion over the next decade. >> we are running short on time. the dough and paul debate. >> this is a deadly earnest. how they can justify raising taxes on the middle-class, who have been buried the last four years. how, in lord's name, can they justify raising their...
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Oct 6, 2012
10/12
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would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never given any plan to reduce the national debt. anything you even described. talk about the deficit, our current budget, but you never say how you will eliminate $16 billion of the national debt. even tom coburn, one of your heroes, from oklahoma, says we have to raise revenue. we have to cut spending. we have to balance our budget. that is not liberal, that is not conservative, it is just the truth. >> i will make a point that in that entire answer, mr. sadler did not disagree with me once that there is not a single texan who currently pays income tax that he is willing to rule out raising taxes on. i've asked to three times that question, and you have yet to give an answer. >> hold on, what about the question of revenue? he
would raise taxes on every single tax and who pays income tax. are the texans to pay income taxes we would not raise taxes on? you did not have an answer. >> you will not put words in my mouth. i would say, the first place, we have to balance the budget, cut spending, and raise revenue to reduce the national debt. you have never given any plan to reduce the national debt. anything you even described. talk about the deficit, our current budget, but you never say how you will eliminate $16...
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Oct 4, 2012
10/12
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KQED
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tax reform is hard. the tax code will be00 years old less year and we have had less than a handful of comprehensive reforms as a going-in proposition, it's hard to do. >> i have sympathy for what doug said as well. however here's the thing i watched the debate with a bunch of students out of notre dame university and there was a ton of head scratching going on. i want to quote some of the things the governor said. >> brown: it's a good school so there should be smart students. >> he said "i will not reduce the taxes paid by high income americans. i will not reduce the taxes paid by high income americans." now this is a guy who's going around saying i'm going to have a very large tax cut. >> brown: what does that mean, do you think there? >> what it means is that mitt romney makes a real distinction between cuts in tax rates and cuts in tax liability cuts in what you have to pay the i.r.s. what he's saying is to the wealthy folks we'll cut your rates but raise your deductions so your taxes will be the sam
tax reform is hard. the tax code will be00 years old less year and we have had less than a handful of comprehensive reforms as a going-in proposition, it's hard to do. >> i have sympathy for what doug said as well. however here's the thing i watched the debate with a bunch of students out of notre dame university and there was a ton of head scratching going on. i want to quote some of the things the governor said. >> brown: it's a good school so there should be smart students....
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Oct 5, 2012
10/12
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KQED
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he cannot cut tax rates, cut taxes on the middle class, cut taxes on capital gains, and balance the budget all at once. >> reporter: romney advisers have said they would consider eliminating tax breaks on at least two forms of saving, life insurance and muni bonds. and the governor's supporters argue tax cuts generate enough growth to offset some of their cost. >> people can have reasonable disagreements about the magnitude of that growth effect, but to assume that it is zero, i think, is wrong. and once you relax that assumption, then, all of a sudden, other things start to be possible. >> reporter: but it's hard to be sure about the impact of tax cuts on the economy, which is why the experts in congress and the treasury who are responsible for estimating the cost of tax changes generally ignore the impact of tax reforms on the entire economy. darren gersh, nbr, washington. >> susie: here on wall street, traders and investors were taking a fresh look at stock sectors today, assessing what a romney or obama win would mean for the markets. also a lot of talk about minutes from the latest fe
he cannot cut tax rates, cut taxes on the middle class, cut taxes on capital gains, and balance the budget all at once. >> reporter: romney advisers have said they would consider eliminating tax breaks on at least two forms of saving, life insurance and muni bonds. and the governor's supporters argue tax cuts generate enough growth to offset some of their cost. >> people can have reasonable disagreements about the magnitude of that growth effect, but to assume that it is zero, i...
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Oct 6, 2012
10/12
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one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries. it's meant to come from providers. however, what romney was saying is that if you take that much from providers, some of them are going to stop taking medicare parents. the trick for him is that paul ryan, his running mate, also assumed the same $716 billion. gwen: and i believe romney's answer to that was i'm the candidate. >> i'm the boss. we're going to put that money back into medicare. gwen: going into these debates we were all probably guilty of setting the expectations bar and it was pretty high for president obama. i think the polls before showed him like 51% thought he was going to win. 29%
one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries....
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Oct 4, 2012
10/12
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federal tax, state tax, state income tax gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate successful small businesses from 35% to 40%. that will cost jobs. my priority is jobs so what i do is bring down the tax rates, lower deductions and exemptions. create more jobs because there's nothing better for getting us to an balanced budget than having more people working, earning more money, paying more taxes, that's by far the more efficient way to get this balanced. >> obama: jim, i would just say this to the american people if you believe we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for -- $7 trillion just to give you a sense over ten year's that's more than our entire defense budget and you think that by closing loop holes and deductions for the well to do somehow you will not end up picking up the tab, then governor romney's plan may work for you, but i think math common sense and our history shows us that's not a recipe for job growth. we have tried this -- we have tried bo
federal tax, state tax, state income tax gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate successful small businesses from 35% to 40%. that will cost jobs. my priority is jobs so what i do is bring down the tax rates, lower deductions and exemptions. create more jobs because there's nothing better for getting us to an balanced budget than having more people working, earning more money, paying more taxes, that's by far the more efficient way...
SFGTV2: San Francisco Government Television
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Oct 3, 2012
10/12
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that is to move our payroll tax to gross receipt tax and why? because by doing that we can create jobs in san francisco and keep people in san francisco . the kids are growing up and we want them to stay but we need jobs. i agree with mr. crowley with the police force and make sure that is fully staffed and i have been speaking to the police athletic league and they have a program to breen the teenagers to be interns in the police force and they would feed into the police cadet program. thank you. >> thank you sir. the next question the city's liabilities are projected to increase in the next coming year. s what new or increased fees should it institute and i will repeat the question and we will begin with mr. crowley. >> i would say that one of the bigger things that we will have before us is the gross receipts tax check that norman talked about trading from the payroll tax which is punitive. the next thing i would do is increase the foot print on mos sony center and that brings in a lot of money to the general fund and erect a multi-purpose ar
that is to move our payroll tax to gross receipt tax and why? because by doing that we can create jobs in san francisco and keep people in san francisco . the kids are growing up and we want them to stay but we need jobs. i agree with mr. crowley with the police force and make sure that is fully staffed and i have been speaking to the police athletic league and they have a program to breen the teenagers to be interns in the police force and they would feed into the police cadet program. thank...
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Oct 2, 2012
10/12
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CSPAN2
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pairs with it fast tax legislation tax reform. it replaces the discretionary cuts across the board with longer term reductions in mandatory spending. it would be nice to see the senate come up with sending to go to conference and hammer this out. that is a way to do this. the tax reform, as i mentioned will be really hard. on february 3rd of next year, the 16th amendment, that is my birthday, so everyone write it down, the 16th amendment will be 100 years old. that's what gave us income tax. our income tax is 100 years old. in those 100 years we have had less than a handful of comprehensive reforms. so the notion we're going do that in a lame duck is insanity. it is going to be hard to do to begin with. i think we ought to acknowledge that. grease the skids as much as possible. extend current policy commit to doing tax reform and get it done in 2013 because it is part of what is necessary for us to thrive economically over the long term. >> can i make a comment on that? doug is really knocking down a straw man. nobody is suggestin
pairs with it fast tax legislation tax reform. it replaces the discretionary cuts across the board with longer term reductions in mandatory spending. it would be nice to see the senate come up with sending to go to conference and hammer this out. that is a way to do this. the tax reform, as i mentioned will be really hard. on february 3rd of next year, the 16th amendment, that is my birthday, so everyone write it down, the 16th amendment will be 100 years old. that's what gave us income tax....
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Oct 4, 2012
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on top of the extension to the bush tax cuts. >> i don't have a $5 trillion tax cut. i don't have a tax cut. of a scale that you're talking about. i will not reduce the share paid by high income individuals. i know that you and your running mate keep saying that and i know it's a popular thing to say with a lot of people burks it's just not the case. look, i got five boys, i'm used to people saying something that's not always true. >> health care, romney was on offense, touting what he passed in massachusetts as an example of a bipartisan compromise and a model for the whole country at the state level. >> we've seen this model work really well. in massachusetts because governor romney did a good thing, working with democrats in the state to set up what is essentially the identical model. >> i like the way we did it in massachusetts. entirely on a partisan basis instead of bringing america together and having a discussion at this important topic, you pushed through something that you and nancy pelosi and harry reid thought something was the best answer and drove it thr
on top of the extension to the bush tax cuts. >> i don't have a $5 trillion tax cut. i don't have a tax cut. of a scale that you're talking about. i will not reduce the share paid by high income individuals. i know that you and your running mate keep saying that and i know it's a popular thing to say with a lot of people burks it's just not the case. look, i got five boys, i'm used to people saying something that's not always true. >> health care, romney was on offense, touting what...
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Oct 4, 2012
10/12
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MSNBC
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the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made assumptions that were not part of mitt romney's tax plan. there are six or seven follow-up studies that say romney's tax plan can do what the governor has said he would. he's going to eliminate or cap deductions on upper income brackets there is more enough in the basket of choices there to take care of providing the to 20% tax reduction to the middle class. >> no, there are not. >> with all due respect to what obama people are putting out, they're wrong on it. >> i'm not talking about what the obama people are talking. first of all, those a
the estate tax. we'll give the top 1/10 of taxpayers an average break of $250,000. >> look, look, andrea, mitt romney pointed out that one of the things that he would do is to put a cap on the deductions. the tax policy center admitted that what they analyzed was assumptions they added to mitt romney's plan that are not deduction. >> which deductions. >> let me finish. i let you finish. now let me fin. >> yes, sir. >> the tax policy center admitted that they made...
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Oct 6, 2012
10/12
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we have significant features of the individual income tax, corporate income tax, the estate tax, and apparel text which expire at the end of the year. in a deep sense, we don't know what our tax code is anymore. it would be nice if we emerged on the far side of the fiscal cliff with our leaders could get us back to a situation where we actually know what the tax code is. >> thank you. our next speaker -- speaker will be bob greenstein. >> there are two risks here. the obvious risk to the economy in the short term -- if we go over the fiscal cliff and the aggregate demand comes out of the economy that we will have a relatively mild recession in the first part of 2013 and we would be back and recovery by the second half of 2013. it would be a recession on top of where we are and that is not good. the bigger risk is the rest to the economy in the long term if we keep kicking the can down the road. how do we think about this? there's an interesting report that came out several months ago from the carlyle group. i want to briefly read what it includes. it says there will be a grand bargai
we have significant features of the individual income tax, corporate income tax, the estate tax, and apparel text which expire at the end of the year. in a deep sense, we don't know what our tax code is anymore. it would be nice if we emerged on the far side of the fiscal cliff with our leaders could get us back to a situation where we actually know what the tax code is. >> thank you. our next speaker -- speaker will be bob greenstein. >> there are two risks here. the obvious risk...
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d vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >> throughout our battleground virginia special, we will take a groups offerent voters. >> we are breaking down voters by age, gender, and ethnicity. >> are political team includes cooper.uman and rebecca >> we have been inside both headquarters and the races this close. nodar kumaritashvili is taken for granted. they analyze every demographic no voter is taken for granted. whether it is making a pit stop or knocking back a:at a local watering hole, but tap into a very specific block of voters. >> it is still the second most important vote in america. >> second only to white females. is going tonow what sway me one way or another. mostly i am a democrat, but i made up my mind yet. successfult obama is young, women, hispanic, and black voters. 60%omney needs to get about of the white vote. possible? >> it is
d vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >> throughout our battleground virginia special, we will take a groups offerent voters. >> we are breaking down voters by age, gender, and ethnicity. >> are political team includes cooper.uman and...
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he was very specific on the tax issue. >> he was specific in repudiating obama tax plan thought did he an excellent job of that. the president has been relying on a report that has been debunked left and right by people about how romney wants to raise taxes on the middle class in order to pay for tax cuts for the wealthy. he rebutted that very effectively i thought. but i would also like to see more details. >> paul: he gave a couple of details in regard to, for example, here is how you reduce deductions and exemptions, a $25,000 $50,000 limit that any one individual could use. that was specific offered by marty felled stein of harvard as a way to make tax reform work. >> and both of them embraced the simpson-bowles commission and the simpson-bowles commission put out three different tax rates and each rate you will have to do something with the deductions and exemptions, eliminate all of them or retain them and romney says i'm going to drop rates and put all of those deductions and exemptions on the table for negotiation. any serious person in politics knows that's the starting point
he was very specific on the tax issue. >> he was specific in repudiating obama tax plan thought did he an excellent job of that. the president has been relying on a report that has been debunked left and right by people about how romney wants to raise taxes on the middle class in order to pay for tax cuts for the wealthy. he rebutted that very effectively i thought. but i would also like to see more details. >> paul: he gave a couple of details in regard to, for example, here is how...
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income taxes eliminating the alternative minimum tax eliminating the estate tax and other tax reductions would reduce federal revenue four hundred eighty billion dollars in two thousand and fifteen and romney up until last night had never disputed that that that that that number has been around forever tax policy center study is flawed it is going to sell for has been running a twenty percent cut in taxes is a five trillion dollars in taxes over ten you know first of all that's not a tax increase in the middle class if you're cutting taxes i want to understand and i'm asserting it is all the president it what i wondering is why is romney disavowing it richard why is what i mean disavowing his own or the magistrate. i don't understand why he does the bowing his tax plan with this joseph who mitt romney is going to do anything to win and this is that what that shows he's going to depart from all of his conservative policies now he's the moderate mitt romney and the next the bit i guess is going to be conservative again with the put the quote i mean you know be the liberal neurontin exactly
income taxes eliminating the alternative minimum tax eliminating the estate tax and other tax reductions would reduce federal revenue four hundred eighty billion dollars in two thousand and fifteen and romney up until last night had never disputed that that that that that number has been around forever tax policy center study is flawed it is going to sell for has been running a twenty percent cut in taxes is a five trillion dollars in taxes over ten you know first of all that's not a tax...
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Oct 5, 2012
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vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? . >>> they're back. the pesky stink bugs. the government said that they have returned in a big quay. many more than last year. you don't have to tell that to the people near linden, virginia. that is where beth parker has paid a visit today. >> stink bug heaven. >> reporter: you can s.w.a.t. them or sweep them. you can't get away. >> there's millions of them. it's the worst thing i have seen in my life. >> reporter: not what he had in mind when he retired and moved to the country. hosted to be closer to nature and nature's too close. >> it's like bug stew. >> can you take some home for dinner if you want. [ laughter ] >> reporter: no, thanks. >> seriously, he would love to get rid of them. their real name is the brown marmarated stink bug and he calls them? >> yucky. terage. >> reporter: he live -- teage. >>
vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? . >>> they're back. the pesky stink bugs. the government said that they have returned in a big quay. many more than last year. you don't have to tell that to the people near linden, virginia. that is where beth...
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we had no tax increase over that food. -- four years. we lowered the tax on ford. the governors will tell you. spend more money here, spend more money there. and we held the line. in this campaign i have endorsed republican proposals to cut spending. the conservative senator from oklahoma. i am proposing to cut congress today. it simply isn't true to say that i haven't supported spending cuts, because i have done plenty of it in the past. >> thank you. senator fisher you have a 30- second rebuttal. >> this was a signature achievement for president bill clinton. it was a vote against cutting spending. you didn't cut spending then. i don't know if you will cut spending if you go back to the united states senate. i don't want to see taxes raised. that is not the future i see for this country. if we are going to truly cut spending, yes, i support a balanced budget amendment because politicians will spend every dime they get. we need a bigger stick. >> thank you. senator kerrey, your question for senator fisher. >> well, can i -- >> not according to the format. >> let m
we had no tax increase over that food. -- four years. we lowered the tax on ford. the governors will tell you. spend more money here, spend more money there. and we held the line. in this campaign i have endorsed republican proposals to cut spending. the conservative senator from oklahoma. i am proposing to cut congress today. it simply isn't true to say that i haven't supported spending cuts, because i have done plenty of it in the past. >> thank you. senator fisher you have a 30- second...
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Oct 4, 2012
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he says he's going to lower tax rates but eliminate corporate tax loopholes and personal tax loopholes. i think he has a secret plan to eliminate that tax critical to the middle class. >> do you think that's what viewers walked away thinking? >> i think they walked away thinking mitt romney would be a great used car salesman, but the policies he's articulating will get us right back into the mess that president obama has been working so hard to dig us out of. >> i suspect many walked away last night feeling a bit confused, maybe a bit bored by the technical language and lack of passion. and they are possibly asking the question around the world that many are, which is why can't these guys get together to hammer out a fiscal solution? because actually they were talking about the details, they didn't seem to be so incredibly so far apart on many of the issues. >> were they? >> i was just thinking just now it is too bad steve israel couldn't go out with an obama mask and substitute for the president. there are a lot of points you are making last night that the president missed. >> what wa
he says he's going to lower tax rates but eliminate corporate tax loopholes and personal tax loopholes. i think he has a secret plan to eliminate that tax critical to the middle class. >> do you think that's what viewers walked away thinking? >> i think they walked away thinking mitt romney would be a great used car salesman, but the policies he's articulating will get us right back into the mess that president obama has been working so hard to dig us out of. >> i suspect many...
SFGTV: San Francisco Government Television
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Oct 7, 2012
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fees, timber tax, property tax, cigarette, alcohol, i believe there's over 20 taxes that are involved. in response, i believe finding number 3 was what we were asked to respond to and on september 10 or a letter dated september 10 was provided to the grand jury. i don't know if that is -- if you've gotten that or what. i mean, so what i will do is summarize that letter and explain what actions the board of equalization has done in regards specifically to the surcharge. sales tax applies to the sale of tangible personal property and the amount upon which that tax applies is the gross receipts under 6012 which is our reference, the gross receipts are anything that are charged so if you go into a liquor store and you buy some beer and it's 5 dollars, we want sales tax on five dollars, gross receipt ares also going be defined as any surcharges that are added and on a number of occasions, we do come across surcharges, for example, there may be a credit card surcharge, that is part of gross receipts and would be taxable, or in some cases, there is a fuel surcharge when the price of fuel bec
fees, timber tax, property tax, cigarette, alcohol, i believe there's over 20 taxes that are involved. in response, i believe finding number 3 was what we were asked to respond to and on september 10 or a letter dated september 10 was provided to the grand jury. i don't know if that is -- if you've gotten that or what. i mean, so what i will do is summarize that letter and explain what actions the board of equalization has done in regards specifically to the surcharge. sales tax applies to the...
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extension of the bush tax cuts. that's another trillion dollars. and $2 trillion in additional military spending that the military hasn't asked for. >> i don't have a $5 trillion tax cut. i don't have a tax cut of a scale that you're talking about. my view is that we ought to provide tax relief to people in the middle class. >> reporter: all right. two contending points there. only one of them can be right. paul singer, the fact checker here tonight, political editor at "u.s.a. today." who's right? >> mitt romney does have tax cuts in his plan. the issue is it really a $5 trillion tax cut because what he says is if it will -- says but it will make more revenue because it creates more jobs. those people then start paying taxes. so it doesn't actually cut revenues to the government. but there are cuts in the tax rate that individuals pay. i'm not sure how to count whether that is or is not a tax cut. >> reporter: okay. bottom line, $5 trillion not $5 trillion or there is no bottom line? >> the romney-ryan plan has nev
extension of the bush tax cuts. that's another trillion dollars. and $2 trillion in additional military spending that the military hasn't asked for. >> i don't have a $5 trillion tax cut. i don't have a tax cut of a scale that you're talking about. my view is that we ought to provide tax relief to people in the middle class. >> reporter: all right. two contending points there. only one of them can be right. paul singer, the fact checker here tonight, political editor at "u.s.a....
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be a tax attached to it. they want a carbon tax that will tax american airplanes landing in europe based on their carbon emissions. what we're looking at here is a global system of taxation. will obama raise taxes? yeah, but not just through congress. it will be done by treaties in the u.n. that can be ratified by the senate and the house of representatives has nothing to do with it. that's one of the major things we warn about in this book heree come the black helicopters." >> sean: that's pretty frightening. it's in bookstores as of tomorrow morning, amazon.com, called "black helicopters." dick, thank you. >> thank you. >> sean: when we come back, is there a major donor scandal about to blow up in the president's face? our guests say they have things that could derail the president before election day. and in the middle east, this time the israelis take out a drone. the middle east burning. this all happens as mitt romney goes out with a major foreign policy speech telling voters that the president has fail
be a tax attached to it. they want a carbon tax that will tax american airplanes landing in europe based on their carbon emissions. what we're looking at here is a global system of taxation. will obama raise taxes? yeah, but not just through congress. it will be done by treaties in the u.n. that can be ratified by the senate and the house of representatives has nothing to do with it. that's one of the major things we warn about in this book heree come the black helicopters." >> sean:...
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Oct 9, 2012
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according to the tax policy center, last year, the bush tax cut increased after-tax incomes for people making over $1 million by an average of 6.2%. that is about 120 to die now -- about $129,000 per household. the increase was only 2.2% for those earning $50,000. over time, our tax code has widened the nation's wealth gap. reversing this trend should be a top goal of tax reform. at a minimum, we certainly should not make the tax code and a less progressive than it would be if the high income tax cuts expired. in 1986 -- a 1986-style approach that promises up from rate cuts to the wealthy is almost guaranteed to give middle-income earners the short end of the stick. the reason is, in order to raise enough money to reduce rates and cut the deficit, you would need to slash deductions and credits on a far greater scale than we did in 1986. middle income earners would not be scared. -- spared. because middle-income earners rely on these expenditures, the cost of losing that likely exit the benefit they would receive from a lower rate. multiple experts have verified this. the joint economic
according to the tax policy center, last year, the bush tax cut increased after-tax incomes for people making over $1 million by an average of 6.2%. that is about 120 to die now -- about $129,000 per household. the increase was only 2.2% for those earning $50,000. over time, our tax code has widened the nation's wealth gap. reversing this trend should be a top goal of tax reform. at a minimum, we certainly should not make the tax code and a less progressive than it would be if the high income...
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by tax expenditures. >> he also said he would not sign any tax deal. >> that's true. that's why you have the upsets that he's talking about. it's not going to be easy. it took three years to do it in the 1986 tax bill. it's not going to be easy here. i have to say, he outlined three ways to deal with trying to reduce the debt. he took one of them off there. you have to deal with two sides here. no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as they're paying now. >> but they shouldn't pay more. >> i thought one of the best lines is that basically we're tired of trickle down government. and he turned the tables on the president. we have the president
by tax expenditures. >> he also said he would not sign any tax deal. >> that's true. that's why you have the upsets that he's talking about. it's not going to be easy. it took three years to do it in the 1986 tax bill. it's not going to be easy here. i have to say, he outlined three ways to deal with trying to reduce the debt. he took one of them off there. you have to deal with two sides here. no taxes to deal with the deficit. is that the right thing? >> keep in mind, he...
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in fact, when you do those sorts of tax cuts there are costs to those tax cuts. the big etan drivegest driver r deficit -- >> chris: if i may, sir. you are talking about half of the planet it would be like talking about obama's jobs plans and saying the entire are plan is to give more money to teachers. it is not obama's plan. similarly you are mischaracterizing the romney plan. saying you're right there is $5 trillion lowering the tax rates but he talks about cutting loopholes. but that is part of the plan. >> but he won't say, chris, which loopholes and which deductions. senator, i doubt seriously you would be if favor of doing away or cutting the home mortgage deduction for middle class americans. governor romney has not said what the plan is for paying for the $5 trillion in tax cuts just like he won't talk about what his tax returns have been or -- >> with all due reis spect, governor, first of all, governor romney made is clear in the debate and he was actually able to speak directly to the american people that he is not going to lower the burdening on up y
in fact, when you do those sorts of tax cuts there are costs to those tax cuts. the big etan drivegest driver r deficit -- >> chris: if i may, sir. you are talking about half of the planet it would be like talking about obama's jobs plans and saying the entire are plan is to give more money to teachers. it is not obama's plan. similarly you are mischaracterizing the romney plan. saying you're right there is $5 trillion lowering the tax rates but he talks about cutting loopholes. but that...
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tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map of where the tresh is, now you get this opinion letters from lawyer, if you follow one every one of these steps, you can get your treasure untaxed to the cayman islands. one of the things the times points out because of the way these were set up and the fees they were charged against them, the less taxes paid by those who were investing, the greater the sum available and therefore the higher the fees that romney collected. >> karen finney, romney, you get the sense the romney campaign expected that the tax return story was a story
tax havens. mitt romney avoided paying his fair share. what else is he hiding? >>> joining me now, david k johnston author of the new book, "the fine print" and karen finney. david k. johnstone, the times got tax experts to look at the tax returns and some documents they obtained from bain from this new report today. what did we learn? >> well, the cayman islands 4 hundred years ago was a hang out for pirates now it's a hang out for tax pirates. instead of a buried map...
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raises taxes. small businesses tell me this is their single largest concern. >> the next question is for mr. murphy. >> regardless what happens with the affordable care act, the government will remain deeply involved in government health care. i want to ask about a very sensitive part of health cost- containment. one third of u.s. health spending is to take care of americans in their last year of life. does that need to change and how this government tackle something like that without the debate quickly turning into talk about government death panels and health-care rationing? >> we need to make a commitment to be blunt public health care systems like medicare and medicaid that we are going -- public health care systems that we're going to take care of them. that's my commitment as a u.s. senator. but in order to do that, the have to have a medicare and medicaid program that works for those individuals and is not just designed to pad the bottom lines of insurance companies. this is where linda mcma
raises taxes. small businesses tell me this is their single largest concern. >> the next question is for mr. murphy. >> regardless what happens with the affordable care act, the government will remain deeply involved in government health care. i want to ask about a very sensitive part of health cost- containment. one third of u.s. health spending is to take care of americans in their last year of life. does that need to change and how this government tackle something like that...
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his tax cut wouldn't be anywhere near that size. >> so you're disputing the size of the tax cut? or are you disputing also how he's going to pay for it? >> we're disputing the size. >> erin, he has campaigned on lowering tax cuts by 20% for everybody, including those in the top 1%. that was one of the main selling points in the republican primary. >> so you're saying if you lower them by 20% you get a $5 trillion tab, right? >> it's a $5 trillion tab. >> but when he closes deductions he won't be anywhere near $5 trillion. that's our analysis. >> well with, okay, stipulated, it won't be near $5 trillion, but it's also not going to be the sum of $5 trillion in the loopholes that he's going to close. it is going to cost someone and it's going to cost the middle class. independent economists have taken a look at this. there aren't enough deductions for those at the top to account for the number of tax cuts that they get because of mitt romney's policies. you have to raise taxes on the middle class, as bill clinton says, it's simple math. >> they'll say, though, that you can do that.
his tax cut wouldn't be anywhere near that size. >> so you're disputing the size of the tax cut? or are you disputing also how he's going to pay for it? >> we're disputing the size. >> erin, he has campaigned on lowering tax cuts by 20% for everybody, including those in the top 1%. that was one of the main selling points in the republican primary. >> so you're saying if you lower them by 20% you get a $5 trillion tab, right? >> it's a $5 trillion tab. >> but...
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this ignores the property taxes, forgave annually for business taxes. it's more than just $150 million; right? >> oh, absolutely. that gets to the heart of the problem with government subsidies is that these companies, once dependent on the federal government and the taxpayers' dollar, they stay dependent on the government's dollar. that's why we see programs like the ethanol policy continually dependent on the government since 1978 and once they get stuck on this government dependence, it's hard to wean them off because they really don't understand their true cost point, and they don't have that true incentive to be competitive. gerri: they exploit the money, go after it, they know how to do it. nick, congressman, thank you for coming on tonight ill line illug this program. i hope you both come back, thank you. >> thank you. >> thank you. gerri: all right. many employers cutting back, restaurantings seeing the strongest year in a decade, by the hiring boom comes from a caveat. they are part-time jobs. our guest yesterday told us why that is obamacare.
this ignores the property taxes, forgave annually for business taxes. it's more than just $150 million; right? >> oh, absolutely. that gets to the heart of the problem with government subsidies is that these companies, once dependent on the federal government and the taxpayers' dollar, they stay dependent on the government's dollar. that's why we see programs like the ethanol policy continually dependent on the government since 1978 and once they get stuck on this government dependence,...
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lowest corporate taxes or among the highest corporate taxes in america? >> i'm -- >> highest corporate taxes in america right now, right? >> highest corporate tax rate in the world right now. >> it's not that much higher than our competitors. in fact, it's lower than many competitors. stop talking about the rates. >> that's not true. >> we know it's mislead. it's effective tax burden on corporations, which is well in line with our european and asian competitors. >> isn't it true that small businesses, which of course as we all know are the real creators of jobs, will pay the ordinary income tax? if you're going to raise ordinary income tax on people making more than $200,000, that's going to hit small businesses and choke off that part of the job creation. >> that's right, maria. the top individual tax rate have a huge amount of small business income. if romney would cut the top individual rate from 35 to 25%, for example -- >> which would help small business. >> small businesses would be benefitted by that. >> bill, that's something john thain said, the
lowest corporate taxes or among the highest corporate taxes in america? >> i'm -- >> highest corporate taxes in america right now, right? >> highest corporate tax rate in the world right now. >> it's not that much higher than our competitors. in fact, it's lower than many competitors. stop talking about the rates. >> that's not true. >> we know it's mislead. it's effective tax burden on corporations, which is well in line with our european and asian...
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federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. in your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so, what i do is bring down the tax rates. lower deductions and exemptions. the same idea behind simpson/bowles, by the way, get the rates down to create more jobs because there is nothing better for getting us to a balanced budget than having more people working, earning more money, pay more taxes. that is by far the most effective and efficient way to get this budget balanced. obama: jim come you may want to move onto another topic, but i want to say this to the american people. if you believe we can cut taxes by $5 trillion that $2 trillion in additional spending that the military is not asking for, $7 trillion, just to get a sense of her 10 years, that is more than our entire defense budget. anything by closing loopholes and
federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. in your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so, what i do is bring down the tax rates. lower deductions and exemptions. the same idea behind simpson/bowles, by the way, get the...
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, like your home mortgage tax deduction, in the romney/ryan tax plan. not enough time. they can't even say if you will pay more or less with their tax plan. well, mitt, i'm sure president obama will give you as many of his minutes as you need to explain it all in wednesday night's debate. >> mitt romney needs a great october. >> we know romney needs a great october. >> to change the course of this campaign. >> the final push is on. >> just days away from the first presidential debate. >> both candidates cramming for the first debate. >> everyone trying to lower expectations. >> franticly spinning to lower expectations. >> >> president obama is an experienced debatetor. >> i'm just okay. >> almost everyone seems to be muting enthusiasm in trying to undersell thvernlths is mitt's first time. >> i don't buy that. >> chris christie is taking a different tack. >> we have a candidate who is going to do extraordinary well on wednesday night. come thursday morning when we get to thursday morning, the entire narrative of this race is going to change. >> this is
, like your home mortgage tax deduction, in the romney/ryan tax plan. not enough time. they can't even say if you will pay more or less with their tax plan. well, mitt, i'm sure president obama will give you as many of his minutes as you need to explain it all in wednesday night's debate. >> mitt romney needs a great october. >> we know romney needs a great october. >> to change the course of this campaign. >> the final push is on. >> just days away from the first...
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if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get a good deal. neil: mitt romney got in trouble when he tried to clarify just that view. but i'm not going to lower taxes as much as you think, i'm going to get rid of a lot of deductions and he left himself open to critics who said wait a minute, you were tax cuts are worth the paper they are printed on. but the goal is to get to a simpler tax code that when you takout some of the extraneous write-offs and allowances, credits, etc., and that he will get it something that makes it a black-and-white case,. >> and there is a question which is why don't politicians wanted. you would assume that they
if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get...
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how in lord's name can they justify raising their taxes with these tax cuts? >> two questions, is there more pressure on the vice president now to be aggressive coming off the president's debate, and are you worried about gaffes like that? >> well, look, i don't think that was a gaffe, george. i think what the vice president was talking about is what he's talked about every day, which is a series of eight years of -- >> he said they were buried the last four years. >> well, we've been digging out for what was an avalanche of bad economic decisions over the past eight years during the bush administration, and what mitt romney and paul ryan want to do is take us back to that exact same failed economic theory, talk down tax cuts, eviscerating the investments we know we need to grow our economy from the middle out rather than from the top down. look, i know vice president biden. i know he's looking forward to having a spirited exchange about ideas. i simply hope this, i hope what paul ryan does is something fundamentally different than what mitt romney does, and t
how in lord's name can they justify raising their taxes with these tax cuts? >> two questions, is there more pressure on the vice president now to be aggressive coming off the president's debate, and are you worried about gaffes like that? >> well, look, i don't think that was a gaffe, george. i think what the vice president was talking about is what he's talked about every day, which is a series of eight years of -- >> he said they were buried the last four years. >>...
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Oct 2, 2012
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taxes. less regulation. more jobs, more success and more opportunity. i support cutting taxes for small business men and women to help them create and retain more jobs whereas my opponent supports raising taxes on small businesses which will mean fewer jobs. i support a moratorium on new red tape and regulation except for the safety and health of the public until the unemployment levels come down. my opponent has said that he supports more regulation that will end up meaning less growth and less jobs. i oppose a obamacare and want to repeal it and replace it with patient centered health care reform. my opponent supports a obamacare and says it is working but even wants to expand on it. these are some of the differences that you will hear tonight. i think the chamber for having asked. i look forward to a robust debate on the issues facing the voters. [applause] i am a husband, father, soldier, small businessmen and lawyers. i am mostly brought to be an american in virginia. you're going to he
taxes. less regulation. more jobs, more success and more opportunity. i support cutting taxes for small business men and women to help them create and retain more jobs whereas my opponent supports raising taxes on small businesses which will mean fewer jobs. i support a moratorium on new red tape and regulation except for the safety and health of the public until the unemployment levels come down. my opponent has said that he supports more regulation that will end up meaning less growth and...
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Oct 5, 2012
10/12
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that's not a tax raise. that's called fairness where i come from. >> vice president biden, congressman paul ryan are prepping if for their own debate next thursday at center college in danville, kentucky. >>> the united nations security council is condemning the shelling by syrian forces in a turkey down that killed women and children. turkey's military responded with artillery fire, raising the prospect of a wider conflict between the two nations. syria remains locked in a brutal civil war that's killed an estimated 30,000 people since march of last year. for more on this potentially explosive situation along the border, we turn to nbc's amon. he's live on the phone from turkey. reset this story for us, if you would, this morning. what happened initially, and where are we now? >> reporter: well, it began on wednesday afternoon when the syrian military essentially fired on this town that was on the syrian side of the border, but according to some, they overshot. one of the mortars landed in the turkish town
that's not a tax raise. that's called fairness where i come from. >> vice president biden, congressman paul ryan are prepping if for their own debate next thursday at center college in danville, kentucky. >>> the united nations security council is condemning the shelling by syrian forces in a turkey down that killed women and children. turkey's military responded with artillery fire, raising the prospect of a wider conflict between the two nations. syria remains locked in a...
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Oct 4, 2012
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>> if you extend the bush tax cuts you don't cut taxes you keep taxes where they are. if you don't extend the bush tax cuts you raise taxes. if you don't extend the bush tax cuts in total you raise taxes. >> they're set to expire. it was your party that set them to expire. i would add. i wasn't -- sitting here at the desk i didn't do that the republican party was the one that decided to do that so you guys had to deal with the sunset provision. >> it's not an accounting measure. they're going to -- of course it's an accounting measure. >> i pay a certain level of tax this career. next year if the bush tax cuts expire i get a big tax increase but if the bush tax cuts don't expire i pay the same tax next year the same as i do this year. >> because you make a lot of money. mr. giuliani, you have a very large tax cut because you are, to your great credit, a high-earning individual and you'll see a large bounty from the tax cut. that's the question on the table. >> stop the ad silliness. the reality is it's true for everyone. let me finish my answer, rather than yelling and
>> if you extend the bush tax cuts you don't cut taxes you keep taxes where they are. if you don't extend the bush tax cuts you raise taxes. if you don't extend the bush tax cuts in total you raise taxes. >> they're set to expire. it was your party that set them to expire. i would add. i wasn't -- sitting here at the desk i didn't do that the republican party was the one that decided to do that so you guys had to deal with the sunset provision. >> it's not an accounting...
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Oct 9, 2012
10/12
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we were able to continue to cut our taxes, consumer sales tax on food as well as cut business taxes. we have been able to work with the legislature in a bipartisan manner to address many of the main concerns. with bipartisan support, we were able to pass the first shale drilling regulatory bill. we were able to pass: safety bills. we were able to address problems with substance abuse and west virginia. we took on our last big liability. it was $10 million. we have come a long way, but we have a long way to go. we have people out there suffering, still looking for jobs. we will need to continue to do what we can to help those. we will continue to improve our education system to make sure our children have world-class education. we need to continue to look at our infrastructure at all levels, broadband, highways, water could continue to make west virginia business families so we can attract jobs. i want to say to the voters, i will always. west virginia first. >> thank you, governor. mr. maloney? >> i am tired of hearing the same old excuses. it could have been a lot better. every time
we were able to continue to cut our taxes, consumer sales tax on food as well as cut business taxes. we have been able to work with the legislature in a bipartisan manner to address many of the main concerns. with bipartisan support, we were able to pass the first shale drilling regulatory bill. we were able to pass: safety bills. we were able to address problems with substance abuse and west virginia. we took on our last big liability. it was $10 million. we have come a long way, but we have a...
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Oct 4, 2012
10/12
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tax cuts. you knew this was goingo be a big issue. president obama went on the attack saying mitt romney is essentially pitching a huge tax cut for the rich. >> governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cuts, that's another trillion and $2 trillion in additional military spending that the military hasn't asked for. >> mitt romney does propose across the board 20% tax cuts in the nonpartisan tax center says under that plan, taxes on the wealthiest americans would be reduced by $5 trillion. initially. but romney says he would offset the cuts with reductions and deductions and closing loopholes that will reduce the tax cut for the wealthy. so our verdict here is that president's saying he would cut the taxes by $5 trillion on wealthy is false because any deduction you take out will make it smaller. there is more to this story. on the deficit, mitt romney claims with the tax cuts he'll not add to the deficit. >> my number one pri
tax cuts. you knew this was goingo be a big issue. president obama went on the attack saying mitt romney is essentially pitching a huge tax cut for the rich. >> governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cuts, that's another trillion and $2 trillion in additional military spending that the military hasn't asked for. >> mitt romney does propose across the board 20% tax cuts in the nonpartisan tax center says under...
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calling a tax on g.d.p. . well it's rather simple really if you have ten thousand units of production in an economy in ten thousand units of creditor currency and the government comes along and says ok we're going to deficit spend so we're going to put another thousand units into there then the value of all of the units of credit in currency that currently exists go down by that amount so this is exactly identical from a functional standpoint as if the i.r.s. man showed up on down your door. and so give me ten percent of everything you have . unfortunately that would be very unpopular if you were to turn around and tell the american public oh guess what your taxes are not going up ten percent of what you currently pay they're going up by ten percent of your income and the tax on everything that you produce as a company is going up by ten percent of your production and yet that is essentially what's been going on now for the last four years and so when we look at why we haven't seen job growth and economic reco
calling a tax on g.d.p. . well it's rather simple really if you have ten thousand units of production in an economy in ten thousand units of creditor currency and the government comes along and says ok we're going to deficit spend so we're going to put another thousand units into there then the value of all of the units of credit in currency that currently exists go down by that amount so this is exactly identical from a functional standpoint as if the i.r.s. man showed up on down your door....
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about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. r. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. ♪ [ male announcer ] its lightweight construction makes it nimble... ♪ its road gripping performance makes it a cadillac. introducing the all-new cadillac xts. available with advanced all-wheel drive. [ engine revving ] it's bringing the future forward. throughout our lives. one a day men's 50+ is a complete multi-vitamin designed for men's health concerns as we age. it has more of 7 antioxidants to support cell health. one a day men's 50+. turn to senokot-s tablets. senokot-s has a natural vegetable laxative ingredient plus the comfort of a stool softener for gentle, overnight relief of
about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. r. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. ♪ [ male announcer ]...
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Oct 2, 2012
10/12
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CURRENT
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the romney memo says that mitt romney will not raise taxes on anyone and that he will deliver tax cuts for the middle class. sounds pretty good, but the brookings tax policy center took a look at this issue, and here is what they found. under mitt romney 95% of americans making under $200,000 would have a tax increase averaging $2,000 while the wealthiest americans would see tax cuts of up to $86,000 per year. and his claim that he can give the wealthy those tax breaks and still close the deficit, that claim is mathematically impossible according to the tax policy center. romney's fuzzy math has put his surrogates in a bit of a tough spot. here is paul ryan trying to explain the impossible on fox us in yesterday. >> how much does that cost? >> it's revenue neutral. >> it's not revenue neutral unless you take away deductions. and we'll get to that. the first half lowering the tax rates does that cost $5 trillion -- >> no. >> you haven't given me the math. >> oh, it would take me too long to go through the math. >> come on i don't have the time to tell you how the math works. then he fol
the romney memo says that mitt romney will not raise taxes on anyone and that he will deliver tax cuts for the middle class. sounds pretty good, but the brookings tax policy center took a look at this issue, and here is what they found. under mitt romney 95% of americans making under $200,000 would have a tax increase averaging $2,000 while the wealthiest americans would see tax cuts of up to $86,000 per year. and his claim that he can give the wealthy those tax breaks and still close the...
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Oct 9, 2012
10/12
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>> tax and cut, tax and spend? which is better? it tells you if we borrow money -- why government feels it need to take our money away from us? if we have opportunity to invest it in job creation? why can't the government learn to balance its budget? why can't the government tighten its belt like everyone out here in this audience has to but this government does not want to. we're not going to be able to cut spending enough to balance the budget. we need to grow the economy in the way you grow the economy, you take every last dime out of the economy. you let that money stay in and circulate and grow and create the jobs necessary and build that more secure future. you cannot continue to tax your way into prosperity. you can't spend your way into prosperity. small business is the solution if you get the government off the backs. you can't in fact, have more people hired, keep those that already have jobs and expand our economy. you don't do it by raising taxes during a recession. >> well, the fact is if you want to talk about job cre
>> tax and cut, tax and spend? which is better? it tells you if we borrow money -- why government feels it need to take our money away from us? if we have opportunity to invest it in job creation? why can't the government learn to balance its budget? why can't the government tighten its belt like everyone out here in this audience has to but this government does not want to. we're not going to be able to cut spending enough to balance the budget. we need to grow the economy in the way you...
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Oct 1, 2012
10/12
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FOXNEWS
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we don't want to tax more people with bad tax policy. we want to grow the middle class and get people back to work with higher take home fay. the secret to this is economic growth, chris. the premise of the conversations and tax reform point is as if the economic pie is fixed and that it is governments if job to redistribute the slices. is not how the world works. we want to grow the pie and we want economic opportunity. we want people to be able to get a better job and have more income security and higher take home pay and you can do that through economic growth and that is what we are trying to provide and what we can get if we put the progrowth policies in place. >> chris: a number of top republicans say that when romney picked you as his running mate a little over a month ago that they thought that this indicated that you guys were going to run a bold reform agenda campaign and now expressing some frustration that instead of you changing romney you heard this that they feel that romney is changing you and you are running a much more
we don't want to tax more people with bad tax policy. we want to grow the middle class and get people back to work with higher take home fay. the secret to this is economic growth, chris. the premise of the conversations and tax reform point is as if the economic pie is fixed and that it is governments if job to redistribute the slices. is not how the world works. we want to grow the pie and we want economic opportunity. we want people to be able to get a better job and have more income...
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Oct 5, 2012
10/12
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when you take that with state income tax and payroll tax and real-estate taxes and gasoline tax all, together that means small business that are highly successful will end up giving more than what they have the government. that will kill jobs. i do not want to kill jobs. my priority is to create jobs, and i will do that with everything i can do. we can do better. we do not have to stay on the path we have been on. there was a report that came out this morning on job creation this last month. there were fewer new jobs created this month than last month. the unemployment rate has come down very slowly, but it has come down nonetheless. the reason it has come down this year is due to the fact that more and more people have just stopped looking for work. if you drop out of the workforce, give up and say i cannot go back to work, i will stay home, if you drop out altogether, you're no longer part of the statistics. it looks like an opponent is getting better, but if the same share of people were participating in the workforce today, as on day the president got elected, and the limit would
when you take that with state income tax and payroll tax and real-estate taxes and gasoline tax all, together that means small business that are highly successful will end up giving more than what they have the government. that will kill jobs. i do not want to kill jobs. my priority is to create jobs, and i will do that with everything i can do. we can do better. we do not have to stay on the path we have been on. there was a report that came out this morning on job creation this last month....
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Oct 4, 2012
10/12
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for every american that pays taxes, if the bush tax cuts expire, their taxes go up. president obama wants to vary that for people at $250,000, that's just the reality of it. >> this is a very important point about the distributional impacts of our tax policy. my understanding is that there had been a difference between mitt romney and the president. that mitt romney wants to make sure he preserves the tax cuts for those at the high end and the president doesn't want to. i want to establish for people watching that is still the case. >> of course it is. mitt romney wants to extend the bush tax cuts -- >> for high income earners. >> for everyone. if you leave those alone, there's no tax increase. if you get rid of the tax cuts for anybody, there will be an increase. the government is wasting enough money already. i believe in the ronald reagan approach -- if i can finish my answer, you should not feed the beast. let's put the beast on a diet and spend a little less money. >> did the department of homeland security, does that count as feeding the beast or not? >> i have
for every american that pays taxes, if the bush tax cuts expire, their taxes go up. president obama wants to vary that for people at $250,000, that's just the reality of it. >> this is a very important point about the distributional impacts of our tax policy. my understanding is that there had been a difference between mitt romney and the president. that mitt romney wants to make sure he preserves the tax cuts for those at the high end and the president doesn't want to. i want to...
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Oct 4, 2012
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be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big, bold idea is never mind. >> but the etch a sketching did not stop there. governor romney who once believed financial regulation was hurting the economy -- >> dodd frank it's called, has not helped enterprise get going, it's slowed it down. >> now seems to be a supporter of wall street regulation. >> want to repeal dodd/frank? >> and replace it. we're not going to get rid of regulation. some parts of dodd/frank that make all of the sense in the world. >> and back in june, romney mocked the president's crazy ideas about needing more
be a 20% tax cut? >> i'm going to lower rates across the board for all americans by 20%. i want a 20% across the board reduction in taxes. the individual marginal tax rate 20% across the board. the top rate, for instance, would go from 35 to 28, middle rates would come down by 20% as well, all rates come down. >> president obama was just as surprised. >> well, for 18 months he's been running on this tax plan. and now, five weeks before the election, he's saying that his big,...
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Oct 5, 2012
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he has a tax cut. if you implemented it, what he says though, and has said from the beginning is that he will pay for that tax cut. when you include that sentence, he then says fairly scored, i have promised as a later date to pay for it. the question has been how are you going to pay for it? why should we believe you when no republican in 20 or 30 years has paid for a tax cut. i'm not sure it is wrong for romney to say that he is going to do a $5 trillion tax cut. the problem is he hasn't told us a word about how he is going to pay for it. the three things he wants to do, have the 20% across the board rate cut and have it paid for while protecting a bunch of tax cuts, they can't be done at once. something has to give and we don't know what it will be. >> he is wrong. because, if we give them the allowance that you are willing to give him, that will be the first time in the history of the discussion of tax policy in our government that anyone has been able to say i don't have a $5 trillion tax cut beca
he has a tax cut. if you implemented it, what he says though, and has said from the beginning is that he will pay for that tax cut. when you include that sentence, he then says fairly scored, i have promised as a later date to pay for it. the question has been how are you going to pay for it? why should we believe you when no republican in 20 or 30 years has paid for a tax cut. i'm not sure it is wrong for romney to say that he is going to do a $5 trillion tax cut. the problem is he hasn't told...
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the economy is languishing worse where looking for more tax hikes and four years ago it was zero tax hikes? we have all been hit now we know how the middle-class and people will be affected. obamacare has at least seven pin tax hikes and 30 more on top of that. charles: we discover a couple more every month. [laughter] but i know this bothers you. the vice president throws numbers out there that the rich are getting over $1 trillion from view. that never seems out of left field but resonates better they got tired of talking about millionaires and billionaires. >> i am spectacular the perplexed by joseph biden. at least the is consistent. this is simply incorrect if the administration believes by raising taxes we can get ourselves into solvency, he is simply incorrect. mitt romney talking about the tax issues how to back out of this situation was awesome. >> i don't know if they believe this helps economically with us verses them redressing the wrongs for those who benefited the most until four years ago. >> we have seen this obama's touting the buffer role with the minimum tax for mi
the economy is languishing worse where looking for more tax hikes and four years ago it was zero tax hikes? we have all been hit now we know how the middle-class and people will be affected. obamacare has at least seven pin tax hikes and 30 more on top of that. charles: we discover a couple more every month. [laughter] but i know this bothers you. the vice president throws numbers out there that the rich are getting over $1 trillion from view. that never seems out of left field but resonates...
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Oct 7, 2012
10/12
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he said 30% tax cuts on corporate taxes and he has a series of other tax cuts he's promised that add up to $4.8 trillion. he cannot name one loophole that he would close. if you took away all the loopholes for upper-income americans, every single one of them, he would still be trillions of dollarss short. me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic. >> when president obama said in 2008 i'm going to cut the deficit in half, i'm going to close guilt me, people-- gitmo, people said-- did not sigh he was not telling the truth. >> closing gitmo involved congress and he couldn't get them to do that. the math, people over $200,000, and you still have a trillions of dollars hole, and he hasn't named the deductions he would close. this is a shell game, john. whichever shell you pick up, the middle class loses. the economy will lose, and i think that this is going to catch up with him. >> schieffer: what did the president think of his performance? >> i think the pr
he said 30% tax cuts on corporate taxes and he has a series of other tax cuts he's promised that add up to $4.8 trillion. he cannot name one loophole that he would close. if you took away all the loopholes for upper-income americans, every single one of them, he would still be trillions of dollarss short. me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic....
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Oct 1, 2012
10/12
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WUSA
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tax experts said today 90% of american families are facing what they call unprecedented tax increases. how much? wyatt andrews is in washington tonight. wyat >> reporter: scott, according to the non-partisan tax policy center, the united states is now on the threshold of one of the largest tax increases in history-- a tax hike that could average $3,500 for every american household. without action by congress, the report says, taxes will go up next year by 20%-- $536 billion overall and will hit americans at every income level, including those living below the poverty line. for a middle-income family making $40,000 a year, taxes will go up by $2,000. the increases are so large because the nation's biggest tax cuts all expire three months from now on new year's day. they include the bush-era federal income tax cuts, the payroll tax cut that lowered social security and medicare taxes, and several remaining stimulus tax cuts all go away january 1 unless congress and the president reach a deal on the budget. many economists are concerned that a tax increase of that size could shock the eco
tax experts said today 90% of american families are facing what they call unprecedented tax increases. how much? wyatt andrews is in washington tonight. wyat >> reporter: scott, according to the non-partisan tax policy center, the united states is now on the threshold of one of the largest tax increases in history-- a tax hike that could average $3,500 for every american household. without action by congress, the report says, taxes will go up next year by 20%-- $536 billion overall and...
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Oct 7, 2012
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taxes or not support a tax reduction. 94 times. that is not what we need to create jobs and really bolster and heat up our economy. we do need the private sector to be able to keep more what we're in and produce. government will have to learn to be more efficient and live with less if that is what it takes to rein in the government growth that we have seen today. but we do need tax relief and barack obama even supported increasing taxes as late as last year for those families making only 40 two thousand dollars a year. that is a lot of middle-income average american families to increase taxes on them. i think that is a way to kill jobs and will continue to harm our economy. >> the charges absolutely not true. barack obama did not vote to raise taxes. the vote this use referring to, john mccain voted the exact same way, which was a procedural vote. it did not raise taxes. no. 2, the governor uses -- john mccain voted 477 times to raise taxes. it is a bogus standard. but if you notice, the governor did not answer the question about d
taxes or not support a tax reduction. 94 times. that is not what we need to create jobs and really bolster and heat up our economy. we do need the private sector to be able to keep more what we're in and produce. government will have to learn to be more efficient and live with less if that is what it takes to rein in the government growth that we have seen today. but we do need tax relief and barack obama even supported increasing taxes as late as last year for those families making only 40 two...
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Oct 9, 2012
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tax cuts. a guy who says we shouldn't be having mission creep in libya but wants mission creep in syria. he's been on all sides of the issues. >> that's just in the last week. >> the president needs to just say these things, it's not obvious to people watching on tv. when you're in a debate it's helpful to talk about it at that time rather than in the rallies afterwards. the jobs question is very interesting. he's trying to convince people in ohio where the unemployment rate is lower than the national average, which already is coming down -- >> in a place where the president's plan to save the auto industry actually protected many jobs. >> so in the face of all the evidence around them, and you can argue about economic statistics as much as you like, but people know their own economy and their own lives. he's trying to put against that by saying there are joshs in the ground we will dig up presumagely by pulling away from environmental regulations. he's talking really about fracking. that's his
tax cuts. a guy who says we shouldn't be having mission creep in libya but wants mission creep in syria. he's been on all sides of the issues. >> that's just in the last week. >> the president needs to just say these things, it's not obvious to people watching on tv. when you're in a debate it's helpful to talk about it at that time rather than in the rallies afterwards. the jobs question is very interesting. he's trying to convince people in ohio where the unemployment rate is...
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payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5% in the red, that's right. neil: if you hear mitt romney saying i'm going to essentially get off your back, going to roll back regulations. he was not specific which, make sure the government cools it on taxes, didn't say to the degree of what allowances and writeoffs and deductions he limits, were you either troubled by the fact it might be a wash? that you, for example, in your case for your catering business, you might see, butch, no tax savings at all, but you might have a lower rate, but can't deduct as much. >> that will kill us. without disposable income for me to spend or gr
payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5%...
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Oct 1, 2012
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everybody would like a tax cut. who wouldn't want a tax cut, especially 20% across the board? if you're making 35%, the top rate, you go to 28%. all chris wallace was trying to get from ryan on sunday was just tell me what big deductions you're going to get rid of so we can finance that. it's the question. of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of charitable deductions, won't get rid of homeowner, state and local. that's where all the money is. it's not little doodads here. joan, you take this one. he won't tell us. same question comes up wednesday night, can romney dodgeball it? can he say i'm not telling you how i'm going to do the major thing i promised to do, get the economy going through a tax cut, but i'm not going to tell you how i'm going to do it. can he get away with it with even the -- >> i hope not. i think this is a moment for jim lehrer to be very tough, respectful tough, and for president obama to come back at him and to sa
everybody would like a tax cut. who wouldn't want a tax cut, especially 20% across the board? if you're making 35%, the top rate, you go to 28%. all chris wallace was trying to get from ryan on sunday was just tell me what big deductions you're going to get rid of so we can finance that. it's the question. of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of...
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Oct 4, 2012
10/12
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a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to broaden the base much at all such that you'll have an explosive budget deficit, it's very much what we saw in the bush supply side trickle down years. >> bob, debatess left. the vice presidential debate, the town hall presidential debate and then the debate on foreign policy. >> i think we throw out the myth that somehow or other only the first debates matter. i think the other debates will have big audiences. i'm through with the expectations game. i think vice president biden will do very well next week. i think the president will bring his best game to these next two debates. this guy
a candidate says i'm going to lower the tax rates but i'm going to broaden the tax base. what you get is lower rates, you get a lot of the former, you get very little of the latter. because like bob says, once you start going into how you're going to broaden the base, then it's don't look at me, look at the other guy. so the danger of this tax reform trap that governor romney is trying to sell right now is that you're going to end up with massively lower tax rates and you're not going to...
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Oct 3, 2012
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this is a choice between tax cuts and tax hikes. you need to make that case. now i want to hear from our panelists in the kudlow caucus. former clinton white house aide, keith boykin. rick lazio, former republican congressman from new york. rick lazio, i begin with you, good evening to you. >> hello, larry. >> this is a gigantic audience, the key issue of our time is still the economy and jobs. so far mitt romney has not been able to make the sale. that's what the polls show. that's why this thing is close. why hasn't he and what's he going to do tonight differently than he's done in the past. >> i think he's going to make the contrast with president obama, why expanding the pie is in the national interest. not redistributing an ever slowing economy but expanding the pie so everybody gets a job that wants a job, people's salaries are rising. i think he needs to lay out the picture, paint the picture for the audience, frankly, larry, of what america would look like after four years of pro-growth policies. more kid graduating and getting jobs that they were trai
this is a choice between tax cuts and tax hikes. you need to make that case. now i want to hear from our panelists in the kudlow caucus. former clinton white house aide, keith boykin. rick lazio, former republican congressman from new york. rick lazio, i begin with you, good evening to you. >> hello, larry. >> this is a gigantic audience, the key issue of our time is still the economy and jobs. so far mitt romney has not been able to make the sale. that's what the polls show. that's...
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Oct 2, 2012
10/12
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CURRENT
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tax. i'm embracing the fair tax. i think it's really the answer when it comes to american jobs. in a zero corporate tax rate, it would create millions of jobs. >> cenk: you were doing so well to the end. [ laughing ] >> cenk: really, really, we'll get to the massive disagreement in a second. but 80% of what you said in the beginning is so much more progressive than a democratic candidate, it makes you wonder if there is something wrong with our system? you're a funny person to ask because you're running on the libertarian party but are you surprised that the democratic candidate is so far to the right of you on so many issues? >> well, the fact that i'm more liberal than obama on many issues, and i'm a lot more conservative than romney on a whole bunch of issues. dollars and cents on the republican side and social issues on the democrat side in. >> cenk: what happened to the democratic party when the libertarians are so much more liberal on 80% of the issues. >> i what happened to the repu
tax. i'm embracing the fair tax. i think it's really the answer when it comes to american jobs. in a zero corporate tax rate, it would create millions of jobs. >> cenk: you were doing so well to the end. [ laughing ] >> cenk: really, really, we'll get to the massive disagreement in a second. but 80% of what you said in the beginning is so much more progressive than a democratic candidate, it makes you wonder if there is something wrong with our system? you're a funny person to ask...
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they were not taxes of the last four years they are taxes of the future. you have had massive regulation in the last four years and executive orders coming out of the federal government and viserating the congressional man date and letting the bureaucracy run the country and you have lists of them down here of over 900 executive orders and where they are abdicating the responsibility of congress and legislature and giving it to the burrcrats to run the country. it is outrageous. >> what i thought was so interesting about vice-president biden's comments 24 hours before the presidential. but setting up the middle class is effected and that is what mitt romney said middle class is suffer it has been the last four years. >> the economy is suffering under the government intervention. we often times don't think of regulations as being a tax. it is a tax not only on wealth creation but individual freedom and take the credit card act that was regulation and pass , a few years ago and had hoped to help the middle class . it made credit more expensive and difficult
they were not taxes of the last four years they are taxes of the future. you have had massive regulation in the last four years and executive orders coming out of the federal government and viserating the congressional man date and letting the bureaucracy run the country and you have lists of them down here of over 900 executive orders and where they are abdicating the responsibility of congress and legislature and giving it to the burrcrats to run the country. it is outrageous. >> what i...
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Oct 5, 2012
10/12
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vo: why won't romney level with us about his tax plan which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can'ustrust him here... how could we ever trust him here? [ male announcer ] we the people, the middle class who move our country forward, work hard raise families, and keep america strong. but mitt romney's budget plan will hurt the middle class, raising taxes on the average family by up to $2,000 while giving a tax break of $250,000 to multimillionaires. doesn't mitt romney understand we can't rebuild america by tearing down the middle class. priorities usa action is responsible for the content of this advertising.
vo: why won't romney level with us about his tax plan which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can'ustrust him here... how could we ever trust him here? [ male announcer ] we the people, the middle class who move our country forward, work hard raise families, and keep america strong. but mitt romney's budget plan will hurt the middle class, raising taxes on the average...
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because they've got fancy attorneys that pay very little income tax let's suppose after all i'm with you and he would argue that the dependence on reliance is not a good thing we want to help people get off that he's not saying abandon those people and it's actually not saying that more people know he's not he doesn't want to abandon the thirty percent he's saying that seventy percent right now are for that they don't want the american private and i'd like to like i would have been less really really i think everybody wants to marry the american dream that anybody actually going to say i want to know i'm smart to get in i have to change that there right but here's the problem he's not explaining it there is this is sort of this is fair politics this is the old from that one movie i forget the title of it but this is the old thing that what you should be afraid of and who's to blame for it and what they're doing is they're saying you know these people aren't paying enough you're paying more this these aren't solutions any distraction at this point the election for romney any time he's
because they've got fancy attorneys that pay very little income tax let's suppose after all i'm with you and he would argue that the dependence on reliance is not a good thing we want to help people get off that he's not saying abandon those people and it's actually not saying that more people know he's not he doesn't want to abandon the thirty percent he's saying that seventy percent right now are for that they don't want the american private and i'd like to like i would have been less really...
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melissa: taxes on everybody. looking on the screen. every single tax bracket there. >> i know. aside from income tax he also proposing rolling back the dividend income tax, carried interest deduction. capital gains. all these things that predominantly wealthier americans benefit from. so you end up having to saddle, and so when you, when mitt romney talks about closing loopholes we need which loopholes those are. president's one good zinger, mitt romney you're talk about all these different things. when will you give us deductions you will close. what loopholes? are they too good you're keeping them secret because they're too good for us to hear. melissa: i'm glad you found something you liked about the debate. thanks for coming on. we appreciate it. >> thanks, melissa, i appreciate it. melissa: hear is the question of the day, what was your favorite moment from last night's debate. facebook.com/melissafrancisfox. follow me on twitter at melissaafrancis. gas stations in the los angeles area are shutting down over supply shortages. will the pumps near you be next? >> u.s. sancti
melissa: taxes on everybody. looking on the screen. every single tax bracket there. >> i know. aside from income tax he also proposing rolling back the dividend income tax, carried interest deduction. capital gains. all these things that predominantly wealthier americans benefit from. so you end up having to saddle, and so when you, when mitt romney talks about closing loopholes we need which loopholes those are. president's one good zinger, mitt romney you're talk about all these...
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, by the way. lower the exemptions to create more jobs because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would just say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense over ten years, that's more than our entire defense budget, and you think
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, by the way....